Molson Coors CEO touts balance sheet strength

SteveGelsi

NEW YORK (MarketWatch) -- Molson Coors Brewing Co.
TAP, -1.51%
CEO Peter Swinburn on Thursday said the company continues to look for possible acquisitions as the consolidation wave in the beer industry continues. In an interview with MarketWatch, Swinburn did not specify what types of companies the beer giant may have in mind, but said it's in a better position to weigh joint ventures and other deals now that it's managed to pay down debt. "There's not an awful lot out there...but we're in a better position to play that game now because of our stronger balance sheet." The company will continue to cut costs as it faces off against the soon-to-merge Budweisder
BUD, -0.75%
and InBev. He declined to comment specifically on a lawsuit against the company by two Ohio beer distributors, but said that most U.S. players support the streamlining process now underway.

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